Sei Investments Co. Makes New $316,000 Investment in CION Investment Co. (NYSE:CION)

Sei Investments Co. bought a new stake in CION Investment Co. (NYSE:CION) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 26,048 shares of the company’s stock, valued at approximately $316,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CION. AE Wealth Management LLC boosted its holdings in shares of CION Investment by 18.5% during the 2nd quarter. AE Wealth Management LLC now owns 29,022 shares of the company’s stock worth $352,000 after purchasing an additional 4,533 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of CION Investment by 20.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 46,980 shares of the company’s stock valued at $569,000 after purchasing an additional 7,832 shares during the last quarter. Diversify Wealth Management LLC purchased a new position in CION Investment during the second quarter worth about $2,250,000. Acadian Asset Management LLC lifted its holdings in shares of CION Investment by 32.5% in the 2nd quarter. Acadian Asset Management LLC now owns 695,609 shares of the company’s stock worth $8,427,000 after acquiring an additional 170,635 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of CION Investment by 674.1% during the 2nd quarter. Private Advisor Group LLC now owns 617,444 shares of the company’s stock worth $7,483,000 after purchasing an additional 537,681 shares during the period. 32.01% of the stock is owned by hedge funds and other institutional investors.

CION Investment Stock Up 0.3 %

NYSE:CION opened at $11.76 on Friday. CION Investment Co. has a 52 week low of $9.65 and a 52 week high of $12.69. The company has a fifty day simple moving average of $11.92 and a two-hundred day simple moving average of $11.91. The company has a market cap of $630.21 million, a price-to-earnings ratio of 4.82 and a beta of 1.18.

CION Investment (NYSE:CION) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter. CION Investment had a return on equity of 12.39% and a net margin of 48.50%. The business had revenue of $61.36 million during the quarter.

CION Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.36 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.24%. CION Investment’s payout ratio is currently 59.02%.

Analyst Upgrades and Downgrades

Separately, Oppenheimer initiated coverage on CION Investment in a research note on Tuesday. They set a “market perform” rating and a $13.00 target price on the stock.

About CION Investment

CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies.